The Cricket World Cup may boost host country India’s economy by as much as 220 billion rupees ($2.6 billion), economists at Bank of Baroda estimate.
The quadrennial tournament, which starts on Thursday and runs through mid-November, is expected to draw large numbers of visiting fans domestically and internationally. With the matches played across 10 cities, that will mostly benefit the travel as well as hospitality sectors, wrote economists Jahnavi Prabhakar and Aditi Gupta in a note Wednesday.
The event, which is being hosted in India for the first time since 2011, also coincides with the three-month festive season that started in September and will be particularly beneficial for the retail sector as many people will make “sentimental purchases of merchandise,” they added.
